Albany, NY -- (SBWIRE) -- 09/14/2012 -- According to a new market report published by Transparency Market Research "Toluene Diisocyanate (TDI) Market: Global Market Analysis & Forecast (2009 - 2016)",Global TDImarket reached 5.8 billion in 2011 and is expected to reach 7.6 billion by 2016, growing at a CAGR of 5.5% from 2011 to 2016. The TDI volume consumption is expected to reach 2,425.4 thousand tons by 2016. Asia Pacific will have the largest revenue share followed by Europeat the second place by 2016.

TDI (Toluenediisocyanate) is mostly used to manufacture flexible polyurethane foams which are primarily used as cushioning material in furniture and transportation applications. The increasing demand of end used segments of the polyurethane is increasing the demand of TDI in the global market. Owing to its excellent physical properties provided by the TDI makes flexible PU foams as a driver of TDI Market.

Any change in the demand and supply of the major raw materials such as benzene and toluene, and crude oil prices has a major impact on the TDI prices as these chemicals forms the basis in the formation of TDI. Continuous rise in TDI bulk price is observed since 2009 on account of rise in Toluene and crude oil prices.

Flexible PU foams are the largest TDI application market that accounted for 85.2% of the TDI market revenue in 2011.The flexible foams segment is expected to grow with a CAGR of 5.6% during 2011 - 2016.

The Asia Pacific is the fastest growing regional market, which is expected to reach USD 3 billion in 2016 with a CAGR of 6.8% during 2011 - 2016. The Asia Pacific TDI market is expected to have a volume share of 39% of the global TDI market in 2016.